AML
AML Knowledge Quiz
Test your knowledge on Anti-Money Laundering (AML) concepts and gain essential insights into regulations, terminology, and practices. This quiz is designed for anyone looking to enhance their understanding of AML processes.
- 11 engaging questions
- Explore key concepts like KYC and money laundering stages
- Perfect for professionals in finance, law, and compliance
What is Money Laundering?
Exposing the origins of illegally obtained funds
The origin of illegally obtained funds
Hiding legal tender
Concealment of the origins of illegally obtained funds
What does the “P” in the abbreviation AML/CFT&P stands for?
Propagation
Prevention of Weapons of Mass Destruction
Proliferation of Weapons of Mass Destruction
Prevention
Who is DCI’s AMLRO?
Kwesi Austin and Robert Sackey
Selasie Woanyah
Mathew L. Teye
Samuel Yallow
Kwesi Austin
Identify the stages of Money Laundering
Placement, Layering and Integration
Identity Fraud, Hedging and Gradation
Placement, Layering, Hedging
Placement, Hedging and Integration
What is the acronym for mandatory national agencies that handle financial intelligence?
EOCO
FIC
BoG
BNI
NIB
Launderers are most vulnerable to being caught during the Integration stage – where money is returned to the criminal from what seem to be legitimate source.
TRUE
FALSE
What is smurfing?
Making small deposits over time to avoid suspicion of money laundering
Smuggling money to avoid suspicion of money laundering
Concealment of the origins of legally obtained funds
Integration of illegally obtained funds
As required by the regulator, which of the following reports must be submitted within 24 hours?
Cash Transaction and Liquidity Reports
Cash Transaction and Suspicious Transaction Reports
Cash Transaction and AML Reports
Cash Transaction and Daily Reports
The difference between the KYC of a politically exposed person (PEP’s) and low risk client is that;
Managing Director and the Head of Legal or Internal Control must sign the KYC of PEP’s
Relationship Manager and Branch Head must sign the KYC of PEP’s
Managing Director and the Head of Legal or Internal Control must sign the KYC of PEP’s
Relationship Manager and Branch Head must sign the KYC of PEP’s
Relationship Manager, Branch Head and Head of CEU must sign the KYC of PEP’s
Relationship Manager, Branch Head, Head of CEU and Head of Compliance must sign the KYC of PEP’s
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